https://www.taxtmi.com/caselaws?id=411251 The High Court upheld the Tribunal's decision, dismissing the appeal and emphasizing that reassessment based on a mere change of opinion without new material indicating income escapement is impermissible. The court highlighted the importance of considering all relevant material during the original assessment to prevent arbitrary use of reassessment powers. en-us Wed, 11 Aug 2021 00:00:00 +0530 Thu, 19 Aug 2021 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411251 The High Court upheld the Tribunal's decision, dismissing the appeal and emphasizing that reassessment based on a mere change of opinion without new material indicating income escapement is impermissible. The court highlighted the importance of considering all relevant material during the original assessment to prevent arbitrary use of reassessment powers. Case-Laws Income Tax Wed, 11 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411251